Goal-setting is a process for personal planning. It could be regarded as a tool for narrowing your focus and segmenting your business so that you can evaluate where you need to give more attention for maximum results.
Goal-setting provides you with long-term vision, while providing you with short-term motivation.
Benefits of Goal-Setting for Entrepreneurs
- Setting goals allows you to determine what you want to achieve in your business:
– Do you want to have a hobby that provides a small extra income?
– Do you want to have a serious business that generates a healthy cash flow?
– What are your short-term and long-term visions for your business?
- Knowing what you want to achieve allows you to decide where to focus your attention and become specific. In any business there are broad areas you can cover, and many huge corporations do this successfully. As an entrepreneur, however, you may find that when your focus becomes more narrow, and you target a specific audience, your business may expand dramatically.
- Setting goals help you to improve your self-confidence because you’re no longer floundering; you know exactly where you’re going and how to get there.
- Achieving small, short-term goals allow you to enjoy the satisfaction of accomplishment and strengthens your resolve to achieve greater goals in your business.
What are your thoughts on the above? What has been your personal experience?
In my next post, we’ll consider how we can set goals effectively. Until then…please feel free to leave your comments. We learn from each other.